COPA HOLDINGS ANNOUNCES MONTHLY TRAFFIC STATISTICS FOR JUNE 2024

Rhea-AI Summary

Copa Holdings (NYSE: CPA) announced preliminary passenger traffic statistics for June 2024. The total available seat miles (ASM) rose by 12.3% to 2,521.9 million compared to June 2023. Revenue passenger miles (RPM) saw an increase of 12.1%, reaching 2,185.1 million. However, the load factor slightly decreased by 0.2 percentage points to 86.6%.

These metrics indicate a steady growth in both capacity and passenger traffic for Copa Holdings, despite a minor decline in the load factor. Copa Holdings continues to be a key player in the Latin American aviation sector, serving multiple regions including North, Central, South America, and the Caribbean.

Positive

• ASM (Available Seat Miles) increased by 12.3% to 2,521.9 million.
• RPM (Revenue Passenger Miles) increased by 12.1% to 2,185.1 million.

Negative

• Load factor decreased by 0.2 percentage points to 86.6%.

Insights

Financial Analyst

Copa Holdings has shown notable growth in both Available Seat Miles (ASM) and Revenue Passenger Miles (RPM) for June 2024 compared to the same month last year, with increases of 12.3% and 12.1%, respectively. This indicates that the airline has managed to expand its capacity and maintain a strong passenger demand. However, the slight decrease in the Load Factor by 0.2 percentage points to 86.6% suggests that while capacity and demand have both increased, the efficiency of capacity utilization has slightly dipped.

For retail investors, the key takeaway is to understand how these metrics play into the financial performance of the company. Increased ASMs typically mean higher operational costs, but when matched with RPM growth, it can indicate effective demand capture. The Load Factor is a critical efficiency metric in aviation; a slight drop, while not drastically negative, might signal overcapacity or slightly less optimal demand management. It’s important to watch how these metrics develop over subsequent months to gauge trends and management effectiveness.

PANAMA CITY, July 10, 2024 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for June 2024:

Operating Data	June 2024	June 2023	% Change
Copa Holdings (Consolidated)
ASM (mm) (1)	2,521.9	2,244.7	12.3 %
RPM (mm) (2)	2,185.1	1,949.0	12.1 %
Load Factor (3)	86.6 %	86.8 %	-0.2 p.p.

 

1. Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown.

2. Revenue passenger miles - represents the number of miles flown by revenue passengers

3. Load factor - represents the percentage of aircraft seating capacity that is actually utilized

For June 2024, Copa Holdings' capacity (ASMs) increased by 12.3 %, while system-wide passenger traffic (RPMs) increased by 12.1 %, compared to 2023. As a result, the system load factor for the month was 86.6 %, 0.2 percentage points lower than in June 2023.

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central, and South America and the Caribbean. For more information visit www.copaair.com.

CPA-G

CONTACT: Daniel Tapia – Panamá
Director – Investor Relations
011 (507) 304-2774

View original content:https://www.prnewswire.com/news-releases/copa-holdings-announces-monthly-traffic-statistics-for-june-2024-302194107.html

SOURCE Copa Holdings, S.A.

FAQ

What was Copa Holdings' available seat miles (ASM) for June 2024?

Copa Holdings' available seat miles (ASM) for June 2024 were 2,521.9 million, an increase of 12.3% from June 2023.

How did Copa Holdings' June 2024 revenue passenger miles (RPM) compare to June 2023?

Copa Holdings' June 2024 revenue passenger miles (RPM) increased by 12.1% to 2,185.1 million compared to June 2023.

What was Copa Holdings' load factor for June 2024?

For June 2024, Copa Holdings' load factor was 86.6%, a decrease of 0.2 percentage points from June 2023.

Where does Copa Holdings operate its services?

Copa Holdings provides services in North, Central, and South America, as well as the Caribbean.

What is the significance of the load factor for Copa Holdings in June 2024?

The load factor for Copa Holdings in June 2024 was 86.6%, indicating a slight decrease of 0.2 percentage points from June 2023, which could suggest a marginal reduction in seat utilization efficiency.